CDW reports preliminary Q1 net sales ~$5.1B; sees FY2023 EPS modestly below FY2022

CDW Corp

2023-Q1 EPS reported $1.68 revenue$5,103,100,000

Preliminary Q1 net sales of approximately $5.1B; below expectations as customers spent more cautiously.
Full-year 2023 non-GAAP EPS expected to be modestly below full-year 2022.
US IT market forecast to decline at a high single-digit rate in 2023; targets 200-300 bps outperformance.
Returned approximately $280M to shareholders through dividends and share repurchases in Q1.
Earnings conference call scheduled for May 3, 2023 at 7:30 a.m. CT.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

CDW Corp reported the three months ended March 31, 2023 results: revenue approximately $5.1 billion. Guidance lowered.

Period: the three months ended March 31, 2023
Revenue: approximately $5.1 billion
Guidance: lowered
Result: preliminary results

Exact text from the filing

of our strategy, the diversity of our business model, and the ability of our team to execute and take share," concluded Ms. Leahy. "First quarter Net sales were approximately $5.1 billion. A greater mix of high-value solutions and services contributed to strong first quarter gross margin but the magnitude of the shift to more cautious buying was significant, and

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Source: SEC EDGAR

accession 0001402057-23-000083

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